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The release of Non farm payroll NFP was better than expectations with a figure of 203K. Data variation made market volatile. NFP was expected at 180K as compare to the previous month release of 200K. Positive figure of NFP 203K strengthen dollar against major rivals because NFP above 200 K could increase the chances of tapering decision in next FOMC meeting. However, Euro and GBP recovered soon because ECB and BOE earlier kept their interest rate unchanged and BOE decided to carry on asset purchasing at current level of 375 billion although these figures were not unexpected. News and bets about tapering kept market moving for long time. The favorable economic indicators like NFP of 203K, third Quarter GDP far better than expectation of 3. 6% additionally decrease in applicants from 320,000 to 298,000 filing for unemployment claims that is close to 6 Years low results and ADP employment change of 215 K as compare to excepted figure of 170 K might more tending to cut pace of $85 billion bond buying. These positive indicators boost taper bets which support demand for US Dollar. Denis Lockhart, Federal Reserve president of Atlanta branch told reporters last week:” the outlook for the economy justifies the consideration” of tapering. Lockhart also commented that stimulus could be softened “during the next few meetings”.
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